Every one involved in market orientation
- intelligence dissamination
- intelligence response
Business idea – questionnaire- survey –data- information- intelligence Should be shared all at the department
Marketing research is "the function that links the consumers, customers, and public to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications." Marketing research is the systematic gathering, recording, and analysis of data about issues relating to marketing products and services. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior. The term is commonly interchanged with market research; however, expert practitioners may wish to draw a distinction, in that market research is concerned specifically with markets, while marketing research is concerned specifically about marketing processes. Market research
Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets. What is transactional marketing?
Transactional marketing is a business strategy that focuses on single, "point of sale" transactions. The emphasis is on maximizing the efficiency and volume of individual sales rather than developing a relationship with the buyer. The transactional approach is based on the four traditional elements of marketing, sometimes referred to as the four P's: * Product -- Creating a product that meets consumer needs. * Pricing -- Establishing a product price that will be profitable while still attractive to consumers. * Placement -- Establishing an efficient distribution chain for the product. * Promotion -- Creating a visible profile for the product that makes it appealing to customers. An alternative to the transactional model, relationship marketing, emphasizes customer retention and future interaction with the company. There are advantages and disadvantages to both approaches. According to customer relationship management (CRM) expert Michael Lowenstein, because transactional marketing does not value customer retention, it can lead to "passive, reactive and short-term customer relationships." However, traditional elements of marketing such as those listed above will always be crucial to success. The main disadvantage of the relationship-based model is its relative expense. However, fostering ongoing interaction with buyers through customer relationship management (CRM) strategies typically improves return on investment (ROI) in the long run. Most organizations include components of both approaches in their strategy. Relationship marketing was first defined as a form of marketing developed from direct response marketing campaigns which emphasizes customer retention and satisfaction, rather than a dominant focus on sales transactions Physical distribution is the set of activities concerned with efficient movement of finished goods from the end of the production operation to the consumer. Physical distribution takes...
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